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This strategy is most effective in intraday. Do comment below if you have any doubts or have any trouble making trade setup as per it. I'll be sure to reply to all of them.
Channel Breakout Strategy
I hope you are clear on how to differentiate between false breakouts & real breakouts now.
Key Pointers
- Breakout is considered genuine when price closes above or below the breakout level.
- Buy signal should be on a green candle & sell singal should be on a red candle.
- Let the candle close and signal appear before taking any trade.
Live Success of strategy
Bank Nifty 6 October 2022
Breakout Signal - 10:59am
Signal Bullish
Risk To Reward : 1:3.3
Who says patterns dont work ! A beautiful bull flag made by bank nifty
Definetely. But I advice to change the breakout parameters as you feel are best. The rule of 25 is not fixed :D
Hello Mam & Sir.
Can we use this strategy on stocks as well?
Thanking you in advance ☺️